Preferred Equity and Mezzanine Loan Investments (Tables) |
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, All Other Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Preferred Equity and Mezzanine Loan Investments | The condensed consolidated balance sheets of Consolidated SLST at June 30, 2020 and December 31, 2019, respectively, are as follows (dollar amounts in thousands):
(2) Included in accrued expenses and other liabilities on the accompanying condensed consolidated balance sheets. The condensed consolidated statements of operations of Consolidated SLST for the three and six months ended June 30, 2020 are as follows (dollar amounts in thousands):
(3) Presented in unrealized gains (losses), net on the Company’s condensed consolidated statements of operations. Includes $75.1 million of unrealized gains and $13.0 million of unrealized losses on residential loans held in Consolidated SLST for the three and six months ended June 30, 2020, respectively, and $71.0 million and $49.0 million of unrealized losses on SLST CDOs for the three and six months ended June 30, 2020, respectively. Preferred equity and mezzanine loan investments consist of the following as of June 30, 2020 and December 31, 2019, respectively (dollar amounts in thousands):
(1) As of December 31, 2019, preferred equity and mezzanine loan investments were reported at amortized cost. |
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Preferred Equity and Mezzanine Loans, Fair Value Compared to Unpaid Principal | The table below presents the fair value and aggregate unpaid principal balance of the Company's preferred equity and mezzanine loan investments in non-accrual status as of June 30, 2020 (dollar amounts in thousands):
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Schedule of Geographic Concentration of Credit Risk | The geographic concentrations of credit risk exceeding 5% of the unpaid principal balance of residential loans, at fair value as of June 30, 2020 and December 31, 2019, respectively, are as follows:
The geographic concentrations of credit risk exceeding 5% of the total loan balances in our residential loans held in securitization trusts, net as of December 31, 2019 were as follows:
The geographic concentrations of credit risk exceeding 5% of the unpaid principal balance of our distressed residential loans, net as of December 31, 2019 was as follows:
The geographic concentrations of credit risk exceeding 5% of the total loan balances related to multi-family loans held in securitization trusts as of December 31, 2019 were as follows:
The geographic concentrations of credit risk exceeding 5% of the total preferred equity and mezzanine loan investment amounts as of June 30, 2020 and December 31, 2019, respectively, are as follows:
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